Blair William & Co. IL Makes New Investment in Primoris Services Co. $PRIM

Key Points

• Blair William & Co. IL has acquired a new position in Primoris Services Co., purchasing 3,919 shares valued at approximately $305,000 during the 2nd quarter.
• Primoris Services reported a quarterly earnings per share of $1.68, significantly exceeding analyst expectations of $1.10, and a revenue of $1.89 billion, up 20.9% year-over-year.
• The company announced a quarterly dividend of $0.08 per share, maintaining a low dividend payout ratio of 7.26%.

Blair William & Co. IL acquired a new position in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,919 shares of the construction company's stock, valued at approximately $305,000.

Several other institutional investors have also recently bought and sold shares of PRIM. Farther Finance Advisors LLC grew its stake in shares of Primoris Services by 166.1% in the 1st quarter. Farther Finance Advisors LLC now owns 2,041 shares of the construction company's stock worth $118,000 after acquiring an additional 1,274 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Primoris Services by 130.9% in the 1st quarter. Blue Trust Inc. now owns 2,256 shares of the construction company's stock worth $130,000 after acquiring an additional 1,279 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Primoris Services in the 1st quarter worth $749,000. Canton Hathaway LLC grew its stake in shares of Primoris Services by 25.0% in the 1st quarter. Canton Hathaway LLC now owns 2,500 shares of the construction company's stock worth $144,000 after acquiring an additional 500 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Primoris Services in the 1st quarter worth $231,000. Institutional investors and hedge funds own 91.82% of the company's stock.

Primoris Services Trading Down 1.4%

Shares of Primoris Services stock opened at $136.83 on Friday. The company's 50-day moving average price is $124.66 and its 200-day moving average price is $92.16. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 45.31 and a beta of 1.43. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 12-month low of $49.10 and a 12-month high of $142.84.

Primoris Services (NASDAQ:PRIM - Get Free Report) last announced its earnings results on Monday, August 4th. The construction company reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.58. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.69 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. Primoris Services's quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm posted $1.04 earnings per share. Primoris Services has set its FY 2025 guidance at 4.900-5.100 EPS. On average, equities analysts expect that Primoris Services Co. will post 3.26 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.08 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Primoris Services's dividend payout ratio (DPR) is currently 7.26%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PRIM. UBS Group upped their target price on shares of Primoris Services from $135.00 to $158.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of Primoris Services from $128.00 to $141.00 and gave the stock an "overweight" rating in a research note on Thursday. Jefferies Financial Group upped their target price on shares of Primoris Services from $128.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Guggenheim restated a "neutral" rating on shares of Primoris Services in a research report on Wednesday. Finally, Roth Capital initiated coverage on shares of Primoris Services in a research report on Thursday, October 9th. They set a "buy" rating and a $170.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $128.42.

Insider Transactions at Primoris Services

In related news, Director John P. Schauerman sold 20,000 shares of Primoris Services stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $114.01, for a total value of $2,280,200.00. Following the sale, the director owned 82,281 shares in the company, valued at $9,380,856.81. The trade was a 19.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeremy Kinch sold 3,006 shares of Primoris Services stock in a transaction on Monday, September 15th. The shares were sold at an average price of $124.00, for a total transaction of $372,744.00. Following the completion of the sale, the chief operating officer owned 9,580 shares in the company, valued at approximately $1,187,920. This trade represents a 23.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,941 shares of company stock worth $3,004,821. Insiders own 1.40% of the company's stock.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.

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